KARACHI - Stocks closed lower amid concerns for suspension of peace talks with TTP.

At local equity market, benchmark KSE-100 share index off by 119.51 points or 0.46 percent to end the day at 25884.38 points compared to 26003.89 points of the previous day.

Analysts said that below expected earning announcements by Hubco and Kapco, delays in privatisation of SOEs, and rising circular debt concerns in energy sector played a catalyst role in bearish activity at KSE despite bullish activity in global stocks and commodities. KSE-Allshare shed by 83.65 points or 0.43 percent to finish the day at 19298.85 points, KSE-30 misplaced 59.14 points or 0.31 percent to end the day at 18849.50 points while KMI-30 share index decreased by 206.86 points or 0.48 percent to stop the trading at 42887.69 points. Trading took place in 388 companies where 152 closed in positive and 222 stocks in negative while the value of 14 stocks remained intact. Rafhan Maize was the biggest price loser of the day decreased by Rs 310 to Rs 7490 followed by Nestle Pak  down by Rs 115.50 to Rs 9334.50. Bata (Pak) and Colgate Palmolive were the top price gainers of the day increased by Rs 86.66 to Rs 3086.66 and Rs 41 to Rs 1600.

A dealer at KSE said market witnessed result driven activity as Hub Power Co and Kot Addu Power Co disappointed December quarter shed 75 points in the benchmark index as both the IPPs closed 5pc down. On the contrary, better result announcement from Fauji Cement brought renewed interest in cement stocks.  With 20pc improving volumes, mid cap stocks FCCL, LPCL and AKBL remained the volume leaders while renewed interest was also seen in stocks like NML, PPL, NBP and MCB. Market traded 225.055 million shares after opening at 174.168 million shares and the value of traded shares was climbed to Rs 7.403 billion from Rs 6.193 billion while the capitalisation of the equity market maintained at Rs 6.290 trillion compared to Rs 6.317 trillion of the previous session.

 Top ten scrips were led by Fauji Cement with 18.845 million shares as it closed at Rs 15.94 after opening at Rs 15.74. Lafarge Pak was on the second position with 17.130 million shares up by Re 0.52 to Rs 10.54. It was followed by Askari Bank with 12.792 million, Bank of Punjab (R) with 12.136 million, Adamjee Ins with 12.133 million, JS Co with 9.685 million, Engro Fertilizer Ltd with 7.801 million, Azgard Nine with 7.375 million, Bank of Punjab with 6.313 million and Hub Power Co with 6.186 million shares.